Turnover: €103.3m, +8.3%
Current operating profit: €11.2m, +8.6%
Net income group share: €7.1m, +6.0%
Bagnolet, September 20, 2017
The Board of Directors, which met on September 20, 2017, approved the half-year financial statements for the 2017 financial year. They were subject to a limited review by the Statutory Auditors. The half-yearly financial report is available on the Company’s website (www.infotel.com).
|in €m, as of June 30
|S1 2017||S1 2016||Variation|
|Consolidated turnover||103,3||95,4||+ 8,3 %|
|– Services||99,0||91,2||+ 8,5 %|
|– Softwares||4,3||4,2||+ 4,0 %|
|Employee costs||(48,0)||(44,4)||+ 8,1 %|
|External loads||(40,1)||(37,1)||+ 8,1 %|
|Allocations to depreciation and provisions||(1,8)||(1,8)||ns|
|Current operating income
as a % of turnover
|+ 8,6 %|
|Operating income||11,1||10,2||+ 8,7 %|
|Income tax||(4,0)||(3,6)||+ 10, 8 %|
|Net profit attributable to the Group
as a % of turnover
|+ 6,0 %|
A satisfying first semester
In the first half of 2017, Infotel recorded revenue of €103.3 million, representing organic growth of +8.3% in a global IT services market growing by +3% (source Syntec Numérique).
The Services business generated revenue of €99.0 million, up +8.5%, thanks in particular to the good momentum observed on digital transformation projects across all sectors.
The Software activity recorded revenue of €4.3 million, up +4.0% over the period, including the amount of IBM royalties for €2.7 million.
Good progress in half-year results
Current operating income amounted to €11.2 million (+8.6%), representing a current operating margin of 10.8% in the first half of 2017.
Expenses are under control at 79.6% of revenue (compared to 80.4% in the 1st half of 2016), including 46.5% of personnel expenses. The Group pursued an active recruitment policy with 216 new employees, despite a more competitive environment to attract new talent.
The level of inter-contracts remained under control at 2.1% over the half-year.
Net income, Group share was €7.1 million, up +6.0%, generating a net margin of 6.9%.
Financial structure still solid
Equity increased to €72.9 million and the Group has no financial debt. Cash is also up at €46.7 million compared to €42.8 million in the 1st half of 2016.
Confidence for 2017
The Group confirms growth of the same order as in the first half, with uncertainty due to recruitment pressures.
In the longer term, the objectives remain a doubling in size in 5 years, by integrating acquisitions.
Next meeting :
Publication of Q3 2017 revenue: October 25, 2017 after market close
Listed on Compartment B of Euronext Paris since January 1999 (Isin code FR0000071797), Infotel is the specialist in large account management systems, from mobile to very large databases (Big Data). At the forefront of technological innovations, Infotel develops its expertise around two complementary areas of expertise: IT services and software publishing. With a turnover of €190.6 million in 2016, Infotel employs more than 2,000 people.